ASX futures up 0.9%; Google and Amazon rise; Iron ore slides

Summary

• ASX futures were up 60 points, or 0.9%, pointing to a third day of gains on the local market. The index is coming off the back of its best session in three weeks 
•  US stocks finished up sharply for a second straight day on Tuesday, helped by gains in Amazon.com and Google-parent Alphabet
• Amazon.com said chief executive officer Jeff Bezos will transition to the role of executive chair in the third quarter, with Andy Jassy becoming the company’s top boss
• Iron ore continues to fall from its peak, down 4.6% to $US149.80 a tonne, with BHP and Rio Tinto’s US-listed depositary receipts both falling 1.6%